aj485’s Activity

Sun Apr 19

NL

Boards Post

aj485 replied to the Fools and Their Money board. 8:42 PM

Re: Hardship Forbearance

So the form asks for Monthly Household Income/Expenses/Debt Payments/Assets/etc. Am I correct that I list just everything related to me?

No. Especially since you presumably file jointly, 'Household' means just that - you AND your [more]

NL

Boards Post

aj485 replied to the Tax Strategies board. 10:28 AM

Re: rules for Roth IRA acquired through divorce

Welcome.

As part of a divorce settlement, I received $30K in the form of a Roth IRA. I opened an account at the same brokerage and they just transferred it from my ex (with court order, but whether it was QDRO or "transfer incident [more]

NL

Boards Post

aj485 replied to the Improve the Fool board. 8:43 AM

Re: My Fool menu

Who does find it inconvenient times but on the list of things he'd like to change about the boards, this is pretty far down the list, though it should be low hanging fruit...

I think the annoying thing is that it was [more]

NL

Boards Post

aj485 replied to the Pet Lovers board. 12:12 AM

Re: looking for a cat tree

Any brand names or places to look will be appreciated.

Armarkat on eBay: [more]

Fri Apr 17

NL

Boards Post

aj485 replied to the Tax Strategies board. 10:33 AM

Re: Split Residency

I have a small RMD from Dad's IRA that will be taxed by VA, but what about our joint accounts? Is it up to us to determine where they are taxed for state taxes?

Here's a link to VA's residency information: [more]

Thu Apr 16

NL

Boards Post

aj485 replied to the Retirement Investing board. 9:43 PM

Re: Retirement Planner

I just started reading "Get What's Yours" by Kotlikoff, Moeller and Solman. I'm only on chapter 6, but it has been very rewarding so far. It might influence your thoughts on when to take SS.

Thanks. I'll see if I can take a [more]

Wed Apr 15

NL

Boards Post

aj485 replied to the Budgeting board. 12:55 PM

Re: six month cash reserve

Is it really a good idea to have six months of living expenses saved in cash, in case of some kind of forced job loss, perhaps in an online saving account yielding 1%?

Having been out of a job for almost a year at one point, I would [more]

NL

Boards Post

aj485 replied to the Buying or Selling a Home board. 12:10 PM

Re: Home sale - worth double move or wait and se

The weird thing is they would not have to do 2 moves because their buyers are renting and if we pay expenses to them they will stay a week or two longer in their apartment and postpone that closing (on our potential buyer's current home). But [more]

Tue Apr 14

NL

Boards Post

aj485 replied to the Retirement Investing board. 7:21 PM

Re: Retirement Planner

2. Does anyone have a suggestion for a retirement planner software that I can use?

Excel.

I've used several different planners from Fidelity, Vanguard, Merrill Lynch, previous 401(k) providers and probably some others that [more]

NL

Boards Post

aj485 replied to the Buying or Selling a Home board. 5:33 PM

Re: Home sale - worth double move or wait and see

Any thoughts? I go back and forth on it. I really would like an easy move, but I do feel a bit of pressure to get the offer over and done with and then we can get on with getting ready to move and not having to keep the house in showroom [more]

NL

Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 11:17 AM

Re: Newbie to Bonds

Wow! This *IS* something I would rather discuss (than Roth versus taxable).

Based on prices this morning, it's actually a 7.3% annual income, plus I have a nice 8.1% capital gain. The capital gain is gradually disappearing, mostly due [more]

NL

Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 3:50 AM

Re: Newbie to Bonds

I made a quick spreadsheet to illustrate the principle. You will do quite a bit better over 30 years with stocks INSIDE the roth and bonds in the taxable account.

Yes, using the assumptions you made for yourself. Those assumptions [more]

Mon Apr 13

NL

Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 7:58 PM

Re: Newbie to Bonds

But all things aren't equal in this case. The equities are likely compounding at about an 8% rate over the 30 years while the fixed income instruments are probably compounding at 2-3% over the period.

Except, in a taxable account, the [more]

Fri Apr 10

NL

Boards Post

aj485 replied to the Tax Strategies board. 9:00 PM

Re: Tax impact for Tenant + Landlord

Can my rental income be offset against the rent I pay so that I don't pay tax on my rental income?

No. You can use expenses and depreciation from the property to offset income from the property. But you cannot deduct the rent that you [more]

NL

Boards Post

aj485 replied to the Tax Strategies board. 8:27 PM

Re: Filing Status?

Is the dependency allowance only applicable insofar as it applies to his filing status? That is, I assume he cannot claim the exemption for his son or the child tax credit, correct?

No, that's not correct. If the child is his [more]

NL

Boards Post

aj485 replied to the Foolish 401(k)s board. 7:35 PM

Re: 401K - Double Taxed ?

I'm sure you know Edelman wasn't talking about IRS definition of withdrawal. He was talking about the common definition of what a loan is vs. a withdrawal... The money is gone from your 401k, until you pay it back. That is not the standard [more]

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 12:55 PM

Re: focus this and next year on paying off debt?

the app requires manual input.

That's good. What input does it require? Actually typing in the transaction, or just checking a box to acknowledge the transaction? If it's not actually typing in the transaction (amount, merchant and [more]

NL

Boards Post

aj485 replied to the Tax Strategies board. 11:56 AM

Re: 401K contributions

I realize that for his age the max contribution from him is $18,000, with a percentage of his contributions being matched if the company so offers.

Actually, company contributions aren't always offered as matching a percentage of [more]

NL

Boards Post

aj485 replied to the Foolish 401(k)s board. 11:30 AM

Re: 401K - Double Taxed ?

I didn't see you address the fact you are borrowing your own money, it actually reduces your 401k balance. IE: a "withdrawal" not a loan....

Okay, I'll address it now.

Edelman is just plain wrong on that. Congress [more]

Thu Apr 9

NL

Boards Post

aj485 replied to the Foolish 401(k)s board. 9:32 PM

Re: 401K - Double Taxed ?

I know it's a question about double taxation, but the entire idea about taking 401k "loan" is bad idea...

A 401(k) loan is a tool. It can be a helpful tool (benefiting the user) or a dangerous tool (harming the user), just [more]

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Boards Stats & Trivia

Big gold star, 5000 posts Feste Award Nominee! Old School Fool
Board Posts 8594
Recs Received 31267
People who have rec'd these posts 1505
Recs to Posts Ratio (last 30 days) 11.10
Threads Started 155
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Most Frequent Board Credit Cards and Consumer Debt
Very First Post Re: Attention all Immigrants denied credit (6/17/1999)
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